Sun Jun 06 2021
Save The Children saw their annual income fall by over £18m in 2020
Latest figures have shown the children’s NonProfit, Save The Children’s, income dropped by £18m during 2020’s pandemic.
The figures, taken from their annual report, show income fell from £307.4m in 2019 to £288.7m in 2020.
Save The Children have attributed that drop to forced shop closures during last year’s lockdowns as well as having to cancel numerous fund-raising events around the country.
Their accounts estimate they lost around £6.5m from their closure of their shops, which equals about half of the previous years raised donations.
A further £2.4m was lost from cancelled events and around £700,000 in community fundraising projects.
Income direct from the Government and other third-party organisations also fell during 2020 from £16.9m in 2019 to £141.6m last year.
Due to those drops, Save The Children were forced to “substantially reduce” their spending, with total expenditure dropping £26m YoY to £238m.
All of this at a time when, as cloudThing have previously reported, the UK public are turning away from children’s charities in general.
As part of the cuts to their programs, Save The Children have been forced to slash spending on fundraising activities, awareness and advocacy (further exacerbating the situation) by £4m.
They’ve also had to implement spending and recruitment freezes across the organisation, with 250 staff members being put on furlough and all of their senior executives taking a voluntary 10% pay cut from May to December2020.
At a time of rising child poverty, worsening malnutrition and increased stress on health systems during the pandemic, our work is more vital than ever. It’s a credit to our staff that we’ve helped millions of children to survive, learn and thrive, despite the financial constraints.
Sun Jun 06 2021